Q3 2021 Investor Relations Presentation



third quarter 2021, ending October 2, 2021

Forward-looking statements

This presentation contains forward-looking statements, including statements regarding: the Company’s global growth program; the main growth drivers expected in 2021; its outlook for sales and earnings per share for fiscal year 2021; its outlook for Sweaty Betty’s sales for fiscal year 2021 (which includes sales made before the Company’s acquisition), its capital allocation priorities, its strategic acquisition approach; and the expected benefits of the Company’s focus on DTC e-commerce. In addition, words such as “estimates”, “anticipates”, “believes”, “foresees”, “proceeds”, “plans”, “predicts”,

“Focused”, “plans”, “prospect”, “is likely”, “expects”, “intention”, “should”, “will”, “confident”, variations of these words and expressions Similar are intended to identify future forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions (“Risk Factors”) which are difficult to predict and could cause the performance of the Company to differ materially from those expressed in the forward-looking statements. . Risk factors include, but are not limited to: the potential effects of the COVID-19 pandemic on the Company’s business, operations, financial results and liquidity, including the duration and extent of these effects, which will depend on many changing factors that the Company cannot currently accurately predict or assess, including: the duration and extent of the pandemic; the negative impact on global and regional markets, economies and economic activity, including the duration and magnitude of its impact on unemployment rates, consumer discretionary spending and consumer confidence levels; actions taken by governments, businesses and individuals in response to the pandemic; the effects of the pandemic, including all of the above, on the Company’s distributors, manufacturers, suppliers, joint venture partners, wholesale customers and other counterparties; the speed with which economies and demand for the Company’s products recover after the end of the pandemic; changes in general economic conditions, employment rates, business conditions, interest rates, tax policies and other factors affecting consumer spending in the markets and regions in which the Company’s products are sold ; the inability, for whatever reason, to compete effectively in the global footwear, clothing and consumer markets; the inability to maintain positive brand images and to anticipate, understand and respond to changing footwear and clothing trends and consumer preferences; inability to effectively manage inventory levels; increases or changes in duties, tariffs, quotas or levies applicable in importing and exporting countries; fluctuations in foreign currency exchange rates; monetary restrictions; capacity constraints, production interruptions, quality issues, price increases or other risks associated with overseas sourcing; the cost and availability of raw materials, inventories, services and labor for subcontractors; work interruptions; changes in relationships with, including the loss of significant wholesale customers; the risks associated with the significant investment and the performance of the Company’s direct consumer operations; risks associated with expansion into new markets and complementary product categories; the impact of seasonality and unpredictable weather conditions; changes in general economic conditions and / or credit markets at the Company’s distributors, suppliers and retailers; changes in the effective tax rates of the Company; failure of licensees or distributors to meet planned annual sales targets or make timely payments to the Company; the risks of doing business in developing countries and politically or economically unstable areas; the ability to secure and protect owned intellectual property or to use licensed intellectual property; the impact of regulations, regulatory and legal proceedings and legal compliance risks, including compliance with federal, state and local laws and regulations relating to environmental protection, environmental remediation and other related costs, and litigation or other legal proceedings relating to the protection of the environment or the effects of the environment on human health; the potential breach of databases or other systems of the Company, or those of its suppliers, which contain certain personal information, payment card data or proprietary information, due to a cyber attack or other similar events; problems affecting the Company’s distribution system, including service disruptions at shipping and receiving ports; strategic actions, including new initiatives and businesses, acquisitions and divestitures, and the Company’s success in integrating acquired businesses and implementing new initiatives and businesses; the risk of impairment of goodwill and other intangible assets; changes in future pension funding requirements and pension costs; and other factors discussed in the Company’s reports filed with the Securities and Exchange Commission and the attachments. The above-mentioned risk factors, together with other existing risk factors and new risk factors that emerge from time to time, may cause actual results to differ materially from those contained in forward-looking statements. In light of these or other risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, the Company assumes no obligation to update, modify or clarify any forward-looking statements.

This presentation includes non-GAAP financial measures which are indicated by footnotes. Pages 26 and 27 at the end of this presentation include reconciliations of the non-GAAP financial measures to the most comparable GAAP financial measures.

Contact us

[email protected]

Mike Stornant

Financial director

Alex wiseman

VP Finances, FP&A

Who is Wolverine in the world

| 4

Saucony Performance Testing Laboratory, Boston, MA

Vision: Building a family of the world’s most admired performance and lifestyle brands

$ 2.3 billion2019


$ 1.8 billion 2020


2020 Turnover








> 40%

pairs sold outside the United States in 2020

2020Revenue (Exterior) | 2020Pairs (Interior)




Asia Pacific

Lat Am


+ 50%

DTC eCom revenue growth in 2020 over one year, representing 20% ​​of consolidated revenue

2020 Turnover

Wholesale and


3P distributors


DTC Stores

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Wolverine World Wide Inc. published this content on November 10, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 10, 2021 07:38:03 PM UTC.

Public now 2021


Analyst Recommendations on WOLVERINE WORLD WIDE, INC.
Sales 2021 2,401 million

Net income 2021 164 million

Net debt 2021 540 million

PER 2021 ratio 15.8x
Yield 2021 1.25%
Capitalization 3,082 million
3,082 million
VE / Sales 2021 1.51x
VE / Sales 2022 1.25x
Number of employees 3,400
Free float 72.1%

Duration :


Wolverine World Wide, Inc. Technical Analysis Chart |  MarketScreener

Technical Analysis Trends WOLVERINE WORLD WIDE, INC.

Short term Mid Road Long term
Tendencies Bullish Neutral Neutral

Evolution of the income statement

To sell

To buy

Average consensus TO BUY
Number of analysts 9
Last closing price

$ 33.39

Average price target

$ 42.50

Spread / Average target 27.3%


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